Urban Outfitters (NASDAQ:URBN) Shares Gap Up on Analyst Upgrade

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) gapped up before the market opened on Friday after Loop Capital raised their price target on the stock to $35.00. The stock had previously closed at $25.69, but opened at $26.34. Loop Capital currently has a sell rating on the stock. Urban Outfitters shares last traded at $26.75, with a volume of 1,918,404 shares traded.

Other equities research analysts also recently issued reports about the company. Jefferies Financial Group set a $35.00 target price on Urban Outfitters and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Co set a $25.00 target price on Urban Outfitters and gave the company a “hold” rating in a report on Wednesday, August 21st. B. Riley set a $23.00 target price on Urban Outfitters and gave the company a “hold” rating in a report on Wednesday, August 21st. Nomura reduced their target price on Urban Outfitters from $32.00 to $28.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Finally, Robert W. Baird reduced their target price on Urban Outfitters from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $29.41.

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A number of institutional investors have recently made changes to their positions in URBN. Investment Counselors of Maryland LLC purchased a new stake in Urban Outfitters in the 2nd quarter worth about $20,258,000. Victory Capital Management Inc. purchased a new stake in Urban Outfitters in the 2nd quarter worth about $16,450,000. Parametric Portfolio Associates LLC lifted its stake in Urban Outfitters by 182.8% in the 1st quarter. Parametric Portfolio Associates LLC now owns 811,393 shares of the apparel retailer’s stock worth $24,050,000 after acquiring an additional 524,469 shares in the last quarter. Morgan Stanley lifted its stake in Urban Outfitters by 121.7% in the 2nd quarter. Morgan Stanley now owns 921,845 shares of the apparel retailer’s stock worth $20,971,000 after acquiring an additional 505,998 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Urban Outfitters in the 2nd quarter worth about $10,986,000. 74.16% of the stock is owned by hedge funds and other institutional investors.

The firm has a 50 day moving average of $22.55 and a 200-day moving average of $25.94. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.89 and a current ratio of 1.60. The stock has a market capitalization of $2.52 billion, a PE ratio of 9.73, a P/E/G ratio of 1.09 and a beta of 0.72.

Urban Outfitters (NASDAQ:URBN) last posted its quarterly earnings results on Tuesday, August 20th. The apparel retailer reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.03. Urban Outfitters had a return on equity of 18.10% and a net margin of 6.54%. The company had revenue of $962.30 million during the quarter, compared to the consensus estimate of $981.40 million. During the same period last year, the business earned $0.84 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts predict that Urban Outfitters, Inc. will post 2.3 earnings per share for the current year.

Urban Outfitters, Inc engages in the retail and wholesale of general consumer products. The company operates in two segments, Retail and wholesale. It operates Urban Outfitters stores, which offer women's and men's fashion apparel, activewear, intimates, footwear, accessories, home goods, electronics, and beauty products for young adults aged 18 to 28; and Anthropologie stores that provide women's casual apparel, accessories, intimates, shoes, and home furnishings, as well as gifts, decorative items, and beauty and wellness products for women aged 28 to 45.